ProgressSoft's Electronic Check Clearing Solution Runs Live at SAMBA

Dubai, June 10, 2009

ProgressSoft, the leading provider of real-time payments and imaging solutions, announces the live-run of its Electronic Check Clearing Solution, PS-ECC, in the Saudi American Bank (SAMBA) at the new Dubai branch.

After two successful implementations of PS-ECC in the UAE at the Arab Bank and the National Bank of Abu Dhabi, ProgressSoft's specialists commenced with implementing the project on the 5th of May 2009 and completed its installation in less than one month; all stages, including Deployment, Training, User Acceptance Testing and finally Piloting were achieved within this remarkably short period, reaching to the live run on the 31st of May 2009.

ProgressSoft met the sophisticated needs of SAMBA with a comprehensive solution that embraced exceptional features, which include Post-Dated Checks processing, Automatic Upload/Download of the files between SAMBA and the Central Bank, and Daily Basis Reconciliation. SAMBA also has the choice of easily integrating PS-ECC with its core banking system and its existing Signature System. Such features directly reflected on the satisfaction of SAMBA's respected class of customers, who are now able to enjoy the bank's automatic and efficient procedures.

[About ProgressSoft]

Established in 1989, ProgressSoft has been focusing its proficiency in imaging technology to deliver a set of innovative solutions tailored for the needs of the financial sector. ProgressSoft specializes in electronic Image-based check clearing, signature verification, securities trading settlement, document management and workflow solutions.

ProgressSoft earned worldwide attention through its achievement in the electronic check clearing field; primarily being an innovator of the World's-first Electronic Image-based Check Clearing solution, dubbed as PS-ECC. Successfully implemented on a nation-wide scale in several countries as of 2001, PS-ECC enabled banks to achieve check truncation at the branch level upon engaging in an expedited, same-day check clearing. The solution uses SWIFT, VPN or proprietary networks between banks.

With local, regional and international sound achievements notched on its belt, ProgressSoft is now Hewlett Packard's global partner for Electronic Check Clearing. However, we are also partners to IBM, Sun, Oracle, Microsoft and CISCO.

Proceeding upon an ever-standing vision of leadership in delivering unprecedented solutions tailored to meet unaddressed business needs; ProgressSoft today is assuming an active role in shaping the future of a technology-driven era of electronic financial services.

More information can be sought from